Aramid Honeycomb Core Materials Market Overview
The global aramid honeycomb materials market is expected to grow from $ 210.2 million in 2020 to $ 338.5 million by 2025 at a CAGR of 10.1% during the foreseen period. The industry is growing due to the high-performance characteristics of aramid honeycomb core materials and their ability to withstand harsh conditions. The lightweight property, combined with the high tensile strength of the aramid honeycomb core, increases energy efficiency, reduces maintenance costs, and allows OEMs to comply with the strict environmental regulations, mainly those imposed in Europe and North America. This further increases the call for aramid honeycomb core materials in the respiratory tract. Nonetheless, the COVID-19 crisis has spread throughout the aerospace industry, leading to reduced aircraft deliveries and lower call for aramid honeycomb core materials.
The foam paper business is expected to dominate the industry during the foreseen period due to the use of cellular paper base materials in the packaging industry. In terms of application, the cellular core materials market can be classified as composite and non-composite. Applications comprising honeycomb-based materials include aviation and automotive. Non-composite applications of honeycomb-based materials include packaging and construction. The call for honeycomb core materials is escalating due to their versatility and utility.
Aramid Honeycomb Core Materials Market Trends:
The honeycombs are converted to flat and curved composite systems and are employed to conform to composite curves without excessive mechanical pressure or heating. It is a high strength, lightweight, non-metallic honeycomb core material made of aramid fiber paper and hexagonal cell shape. The market is expected to expand during the foreseen years due to the worldwide rise of the aerospace industries. The aerospace industries call honeycomb core materials because of their lightweight materials and their weight reduction contributes to both structural application and aircraft components.
Recent Developments and Trends
Plascore Inc. (Zeeland, Michigan, USA): Manufacturer of honeycomb cores for aerospace, transit and construction companies, expanding its business in Zeeland, Michigan, financing 6 million dollars and creating 10 to 15 jobs for the next two years.
AVIC designates Argosy as the exclusive supplier of its aramid honeycomb cores. Argosy also produces aluminum honeycomb core goods in a clubbed venture with Xi'an Aircraft and promotes them across the globe.
Aramid Honeycomb Core Materials Market Drivers
The acceleration of the honeycomb core materials market and the consumption of aluminum and paper assembly as a solution are some of the vital circumstances that are foreseen to drive the call for aramid honeycomb core materials market. Some of the other factors driving market expansion are the escalating call for aluminum, paper and aramid fiber as solvent in the maritime industry and end-user transportation.
The advance in the number of orders on the restriction of PTC content in the base material is also expected to hamper the aramid honeycomb core materials market during the foreseen period.
Despite this, the advancement of analytical projects to inflate the fiber content of the honeycomb core using aluminum and paper is expected to implement profitable opportunities for entrepreneurs shortly.
However, the worldwide pandemic disease COVID-19 has forced aircraft, car and ship manufacturers to shut down their operations, which is expected to reduce call for aramid-based honeycomb materials in the construction and transportation in 2020.
Aramid Honeycomb Core Materials Market Segmentation:
Aramid honeycomb core materials in the others sector are predicted to develop quicker as in comparison to Nomex owing to the comparatively less cost and equivalent performance features. Japanese and South Korean companies offering these other aramid honeycomb materials are expected to occupy significant market share during the foreseen period.
Exterior applications account for most of the value of the aramid honeycomb core material. Due to its superior attributes such as strength, flexibility, durability, stability, low weight and resistance to heat, temperature and humidity, the honeycomb core materials in aramid are mainly employed in exterior applications.
By transportation type:
Roads are expected to be the fastest growing type of transportation. Aramid honeycomb is employed in a variety of road applications, including automobiles, military vehicles, buses, commercial vehicles, and motorsports, including Formula 1 and tourism. The aramid honeycomb core is applied to interior and body panels, spoilers, floors, and chassis components, among others.
Aramid Honeycomb Core Materials Regional Analysis:
The Aramid Honeycomb Core Materials Report includes the segmentation of Regions with their respective Countries.
Middle East & Africa
North America accounts for the majority of the worldwide market for aramid honeycomb core materials in the transportation industry, in value terms, due to high call from the aerospace and manufacturing industries like defense and army. North America is home to several makers of honeycomb aramid core materials. However, due to the COVID-19 epidemic, the US aerospace industry is seriously affected. This is expected to reduce the call for honeycomb aramid core materials until aircraft production facilities begin operating at full capacity. The increased use of honeycomb core materials in the aerospace industry is expected to drive call for materials in North America. The North American market is expected to grow at a rapid pace during the foreseen period.
In Europe, the expansion of the automotive industry is driving the call for honeycomb-based materials. The regional market is expected to grow at a high rate of expansion during the foreseen period. The manufacturing, transportation and packaging industries in Asia-Pacific countries such as India and China are expected to grow rapidly in the near future. This is expected to boost the market for aramid honeycomb core materials in the region. According to Asia Pacific Airlines, the Asia-Pacific region carries about 1.2 billion passengers and 20 million tons of cargo. This represents approximately two fifths of world freight traffic and one third of world passenger traffic. Honeycomb core materials are widely employed in the Asia Pacific aerospace industry. This should boost the region's market for years to come.
Hexcel Corporation (US), Euro-Composites S.A. (Luxembourg), The Gill Corporation (US), Plascore, Inc. (US), Argosy International, Inc. (US), Showa Aircraft Company Ltd. (Japan), Tasuns Composites Co. Ltd. (China), and Schutz Composite GmbH (Germany) are some of the significant players of the aramid honeycomb core materials industry
1.1 Market Definition
1.2 Scope of the report
1.3 Study Assumptions
1.4 Base Currency, Base Year and Forecast Periods
2. Research Methodology
2.1 Analysis Design
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Data Modelling
2.2.4 Expert Validation
2.3 Study Timeline
3. Report Overview
3.1 Executive Summary
3.2 Key Inferencees
4. Market Dynamics
4.1 Impact Analysis
4.2 Regulatory Environment
4.3 Technology Timeline & Recent Trends
5. Competitor Benchmarking Analysis
5.1 Key Player Benchmarking
5.1.1 Market share analysis
5.1.3 Regional Presence
5.2 Mergers & Acquistion Landscape
5.3 Joint Ventures & Collaborations
6. Market Segmentation
6.1 Aramid Honeycomb Core Materials Market, By Type
6.1.2 Market Size Estimations & Forecasts (2019-2024)
6.1.3 Y-o-Y Growth Rate Analysis
6.1.4 Market Attractiveness Index
6.2 Aramid Honeycomb Core Materials Market, By Application
6.2.3 Market Size Estimations & Forecasts (2019-2024)
6.2.4 Y-o-Y Growth Rate Analysis
6.2.5 Market Attractiveness Index
6.3 Aramid Honeycomb Core Materials Market, By Transportation Type
6.3.5 Market Size Estimations & Forecasts (2019-2024)
6.3.6 Y-o-Y Growth Rate Analysis
6.3.7 Market Attractiveness Index
7. Geographical Landscape
7.1 Global Identity Governance and Administration Market, by Region
7.2 North America - Market Analysis (2018 - 2024)
7.2.1 By Country
7.2.2 By Type
7.2.3 By Application
7.2.4 By Transportation Type
7.3.1 By Country
7.3.2 By Type
7.3.3 By Application
7.3.4 By Transportation Type
7.4 Asia Pacific
7.4.1 By Country
7.4.2 By Type
7.4.3 By Application
7.4.4 By Transportation Type
7.5 Latin America
7.5.1 By Country
7.5.2 By Type
7.5.3 By Application
7.5.4 By Transportation Type
7.6 Middle East and Africa
7.6.1 By Country
7.6.2 By Type
7.6.3 By Application
7.6.4 By Transportation Type
8. Key Player Analysis
8.1 Hexcel Corporation
8.1.1 Business Description
8.1.4 SWOT Analysis
8.1.5 Recent Developments
8.1.6 Analyst Overview
8.2 Euro-Composites S.A
8.3 The Gill Corporation
8.4 Plascore, Inc
8.5 Argosy International, Inc
8.6 Showa Aircraft Company Ltd
8.7 Tasuns Composites Co. Ltd
8.8 Schutz Composite GmbH
9. Market Outlook & Investment Opportunities
List of Tables
List of Figures